The newly published The State of FinTech report by Startupbootcamp and PwC offers an in-depth assessment of global tech trends, global fintech trends and global fintech funding in 2017, plus an inside look at the promising future of fintech in the Asia Pacific region.
Startupbootcamp, the leading international accelerator programme for start-ups disrupting the financial sector, in collaboration with multinational professional services firm, PwC, recently published an informative and wide-ranging new report entitled The State of FinTech. According to the report – which, among other things, analyses current global tech trends, global fintech trends, and global fintech funding for 2017 – the Asia Pacific (APAC) region is presently experiencing considerable growth and looking forward to a promising future within the global fintech ecosystem.
Global tech & fintech trends
Startupbootcamp and PwC begin the report by offering readers some general insights into today’s top tech trends, identifying three central areas of the tech world that impact around the globe: artificial intelligence (AI) & advanced machine learning, cyber security, and mobile payments. In following subsections, each of the aforementioned trends are expounded on in exhausting detail, providing for example funding data for related sectors, in addition to expert observations about the current and future developments of each trend.
The following section of the report dives into even more detail by focusing on the trends that are currently dominating the world of fintech, again identifying the top three within the sector. Much like in the previous section, each trend has been explained in exhaustive detail. Assertions made in each section are likewise defended with the most recent market data, as well as through case studies and other research highlights. Readers will need to peruse the paper themselves for the data and detail, but to summarise, the three leading trends in fintech around the globe are:
•, Big Data infrastructure and analytics
•, Chinese Dragons leading the rising wave of fintech in Asia
•, India leading the way in digital banking with the development of the world’s first unified payments interface
Global fintech funding
A quick, cursory assessment of available funding data from the past year is more than enough to detect the dominance of the APAC fintech ecosystem, which could best be characterised as a seemingly exponential rate of growth. In 2016, the APAC area saw fintech-oriented funding reach USD 14.8 billion in total investments made regionally, accounting for well over half (52%) of the global total, and nearly double that of second runner-up, North America, which received USD 8.3 billion, or 32% of the global total. Research findings predict continued growth in 2017 as the industry works to scale the progress of the fintech start-ups that received funding in the year before.
The future of fintech in Asia PacificStartupbootcamp and PwC conclude the report by offering an expert view on what lies ahead for fintech in APAC, naming four fields in which it claims “the future resides” – Financial Inclusion, Wealth Management, RegTech, and InsurTech. These expectations are due to the supply-demand disparity present in each field. Although a number of major steps have already been taken by governments, financial institutions and consumers to bridge this gap, the report predicts a future filled with many more of these.
To learn more, access the full The State of FinTech report by Startupbootcamp FinTech & PwC here.]]>